The SA Reserve Bank launched a national campaign on Wednesday on a new range of banknotes honouring former president Nelson Mandela.<\/p>\n
It said the range was themed “One of a kind” and that the campaign was aimed at educating the public about the banknotes, which would enter circulation before the end of the year.<\/p>\n
The new R200, R100, R50, R20, and R10 notes would show Mandela’s face on the front, and the Big Five animals, which appear on the existing notes, on the back.<\/p>\n
Security features would include watermarks, micro-printing, and unique numbering. There would be raised printing for the visually impaired.<\/p>\n
The new banknotes would be the same size as those already in circulation to avoid confusing the visually impaired.<\/p>\n
“We are pleased to issue this new series of banknotes which reflects South Africa’s pride as a nation and pays tribute to a much-loved world icon,” SARB governor Gill Marcus said at the bank’s head office in Pretoria.<\/p>\n
She said the campaign had already started in other countries on the continent which used the South African rand. These included Namibia, Swaziland and Lesotho, Zimbabwe, Kenya and Tanzania.<\/p>\n
The banknotes already in circulation remained a legal tender and were of equal value to the one to be introduced.<\/p>\n
Marcus said that as at December last year, R100 billion of banknotes were circulating within the South African economy.<\/p>\n
She said it was regarded as a best practice internationally for central banks to upgrade the security features of their banknotes every six to eight years.<\/p>\n
“This is to combat counterfeiting, which diminishes the value of real money, robs countries worldwide of billions of rand annually and tarnishes the credibility of a currency, thereby impacting on the growth of that economy,” she said.<\/p>\n
“We’ve done our best to ensure that they cannot be replicated.”<\/p>\n
The campaign would end in March.<\/p>\n
“We are very thankful for the recognition of Tata [Mandela] in this manner,” said Winnie Madikizela-Mandela, who attended the launch.<\/p>\n
“We think it is the best birthday present he ever received on his 94th birthday.”<\/p>\n
New notes<\/strong><\/p>\n
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